The Single Best Investment: Creating Wealth with Dividend Growth | Lowell Miller

The Single Best Investment: Creating Wealth with Dividend Growth | Lowell Miller | Interesting Advocate of 100% Stock Asset Allocation

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The Single Best In...

	The Single Best Investment: Creating Wealth with Dividend Growth Lowell Miller Print Project, 2006 - 265 pages average customer review:based on 11 reviews view larger image
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highly recommended

This witty guide advises readers to stop playing the stock market or listening to television gurus and instead put their money into dividend-paying, moderate-growth companies that offer consistent returns and minimum risk. Citing statistics that show companies initiating and raising dividends at the fastest rate in 30 years, this analysis declares once-stodgy dividends to be "the next new thing" and provides simple rules for choosing the best stocks, using traditional evaluation tools, reinvesting dividends, comparing stocks and bonds, and building a portfolio. Technical aspects of the stock market are explained in the final pages that include two new chapters and revised statistics as well as academic studies, historic back-tests, examples of real-time performance, and a list of resources for further research.

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Among the Best Investing Books Available

I've read dozens of investing "classics" and this one ranks high among them. It's engangingly written without being pushy or arrogant. The advice it contains is convincing, wise, and timeless.

Interesting Advocate of 100% Stock Asset Allocation

I am a great fan of passive index funds. I also hate the idea of owning bonds and have toyed with the idea of replacing bonds in my asset allocation with high dividend stocks from high quality companies. Historically, high dividend stocks from high quality companies have declined less than the S&P 500 in Bear Markets. The current 15% tax rate on dividends is also more favorable to holding high dividend paying stocks in taxable accounts.

Miller hates bonds as much as I do......and advocates a 100% stock portfolio several times in the book.

Miller contends that an investor can construct a 100% stock portfolio that has lower risk and a higher return than a conventional 60:40 stock and bond portfolio.

Miller repeats the age old saying that "Dividends Don't Lie".......and we recently learned about how many managements can lie ala Enron and WorldCom. Miller calls the period 1990-2003 the Dividend Dark Ages where companies reduced the amounts of dividends paid and focused on increase stock prices.......including creative accounting....so executives stock options would be worth more to them.

Miller gives specific guidelines on how to select high quality companies with great prospects for long term increases in dividend growth.

Although Miller is more an active versus a passive investor, his technicques are likely to yield returns close to index fund returns.

Over-all an interesting read and his suggestion to replace a 60:40 conventional stock and bond portfolio with 100% dividend paying stocks is great food for thought.

I would suggest companion books to supplement this book including:
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
The Millionaire Next Door
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
The Bogleheads' Guide to Investing
Wealth: Grow It, Protect It, Spend It, and Share It
All About Asset Allocation.

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good investment book

I read geraldine weiss investment books, and made up my mind to keep studying dividend investing; actually it is one of the best strategies to employ in hard markets like the one we are experiencing; the volatiliy is relatively low compared to other different strategies, and long term results could be substantial.
Good and well researched book

simply a SMART strategy

this is a great book. O'Higgin's book on buying the Dogs of the Dow was a good book, and it made sense: buy quality when it is cheap. Well, Miller's book makes sense, too. In fact, it makes so much sense, that you wonder "why, of course, that's the way to make money". This book reminds you how important dividends are (some 70% of stocks' returns over the past 50 years), and how significant compounding can be. ("yeah, yeah, yeah" you say, but how about 20+% annual return per year on an investment in a solid, low risk company? Miller tells you how.) Though this is not the kind of book that appeals to day-traders, or "hot stock" investors, it is the kind of book that should appeal to smart investors.

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Nothing new here

Overall this is a good book, but there is nothing in this volume that will help you find the really big winners. If you are looking to make 6% to 10% return on your money each and every year, read this book, but if you are looking for much higher returns say 20% to 100% per year, read some of william O'neils books.

reviews: page 1, 2, 3

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